KLP Kapitalforvaltning AS Invests $1.27 Million in Paramount Global (NASDAQ:PARA)

KLP Kapitalforvaltning AS bought a new stake in Paramount Global (NASDAQ:PARA) in the 4th quarter, Holdings Channel.com reports. The fund bought 120,400 shares of the company’s stock, valued at approximately $1,265,000.

Other large investors have also recently added to or reduced their stakes in the company. Allworth Financial LP increased its stake in shares of Paramount Global by 140.1% during the 4th quarter. Allworth Financial LP now owns 2,391 shares of the company’s stock valued at $25,000 after acquiring an additional 1,395 shares during the last quarter. Rakuten Securities Inc. increased its position in Paramount Global by 187.8% during the fourth quarter. Rakuten Securities Inc. now owns 3,094 shares of the company’s stock worth $32,000 after purchasing an additional 2,019 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in Paramount Global during the fourth quarter worth approximately $57,000. FNY Investment Advisers LLC raised its stake in Paramount Global by 102.4% during the fourth quarter. FNY Investment Advisers LLC now owns 7,224 shares of the company’s stock worth $75,000 after purchasing an additional 3,654 shares during the period. Finally, Synergy Asset Management LLC purchased a new stake in shares of Paramount Global during the 4th quarter valued at $88,000. 73.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on PARA shares. Guggenheim reaffirmed a “buy” rating and issued a $14.00 target price on shares of Paramount Global in a research report on Thursday, February 27th. Needham & Company LLC reaffirmed a “hold” rating on shares of Paramount Global in a research note on Thursday, February 27th. Benchmark reissued a “buy” rating and set a $19.00 target price on shares of Paramount Global in a research report on Thursday, February 27th. Morgan Stanley boosted their price objective on shares of Paramount Global from $10.00 to $11.00 and gave the stock an “underweight” rating in a research note on Tuesday, February 4th. Finally, StockNews.com assumed coverage on shares of Paramount Global in a research note on Sunday. They issued a “hold” rating on the stock. Six analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Paramount Global has a consensus rating of “Hold” and an average target price of $12.10.

Paramount Global Stock Down 1.0 %

Shares of Paramount Global stock opened at $11.56 on Friday. Paramount Global has a 1-year low of $9.54 and a 1-year high of $14.54. The company has a market capitalization of $7.71 billion, a PE ratio of -1.41, a P/E/G ratio of 1.68 and a beta of 1.60. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10. The business has a 50-day moving average of $11.28 and a 200-day moving average of $10.89.

Paramount Global (NASDAQ:PARA) last posted its quarterly earnings data on Wednesday, February 26th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.29). The business had revenue of $7.98 billion for the quarter, compared to analysts’ expectations of $8.07 billion. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. As a group, equities analysts forecast that Paramount Global will post 1.77 EPS for the current fiscal year.

Paramount Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 17th will be issued a $0.05 dividend. The ex-dividend date is Monday, March 17th. This represents a $0.20 annualized dividend and a yield of 1.73%. Paramount Global’s dividend payout ratio is presently -2.15%.

Paramount Global Company Profile

Paramount Global operates as a media, streaming, and entertainment company worldwide. It operates through TV Media, Direct-to-Consumer, and Filmed Entertainment segments. The TV Media segment operates CBS Television Network, a domestic broadcast television network; CBS Stations, a television station; and international free-to-air networks comprising Network 10, Channel 5, Telefe, and Chilevisión; domestic premium and basic cable networks, such as Paramount+ with Showtime, MTV, Comedy Central, Paramount Network, The Smithsonian Channel, Nickelodeon, BET Media Group, and CBS Sports Network; and international extensions of these brands.